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Abazias Retains Financial Services Firm to Enhance Shareholder Value
Potential sale of Abazias is one option
By Jeanette Goldman Posted: 01/31/07 07:46
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RAPAPORT... Online diamond retailer Abazias.com has initiated a formal process to explore a variety of strategic alternatives to enhance shareholder value, including a potential sale of the company. In a statement released on January 31, Abazias.com said it retained Cantor Fitzgerald to act as its exclusive financial advisor in order to examine a range of short and long-term options.
 
For fiscal 2006 sales increased 58 percent to $4.8 million at Abazias, while the company reduced its loss by 68 percent to $139,613.

"We are certain that there is significant unleashed value embedded in our stock price," stated Oscar Rodriguez, CEO of Abazias. "We are working diligently to explore effective business opportunities in order to unleash this unrecognized value in the public market place."

Abazias.com has undergone a recent transformation including a stock split and new stock symbol (ABZA.) In making the announcement, the company noted that there can be no presumption that this process will result in the company completing any transaction or altering its current strategy.

“The company does not intend to disclose developments with respect to any outcome of the process unless and until a specific transaction is approved or otherwise has reached a definitive conclusion,” the statement read.
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